Applied Research On Grey Decision-making In Securities Investment Analysis

A lot of years have gone on in the Chinese capital market. The Chinese capital market has begun to take shape. It is playing a more and more important role in the construction of market economy, especially in improving economic growth quality and efficiency, scientific and technical innovation and industrial structure adjustment etc. However, the disclosure of information is a weak link of the realistic security market of our country which is insufficient, untimely, illegal, non- average. Meanwhile, the time that the security market of our country developed is not long. Data are few either. Hence, the obvious defect exists that the investors utilize the traditional investment decision-making analytical method by information revealed publicly. It is significant in theory and in practice to make grey decision-making in securities investment analysis on the basis of basic side on present form.There are a great many quantitative, qualitative analysis theories and methods both at home and abroad regarding the securities investment analysis. Each of these theories and methods has its characteristic and range of application. This thesis explains the relevant theories and introduces several analytical methods carried out on securities investment analysis now and grey systematic theory. The thesis draws the feasibility of using the grey systematic theory in securities investment according to the security market characteristics of our country referred to above and describes five kinds of grey decision-making models in detail, these models including grey situation decision-making model, grey cluster decision-making model, grey target decision-making model, grey related decision-making model, grey developing decision-making model. In conclusion, the thesis analyses the actual conditions of the automobile industry of our country and development prospect, selects five automobile companies and two kinds of grey decision-making methods, ie grey situation decision-making model and cluster decision-making model. The thesis combines decision-making theory of the grey systematic theory with traditional analyticalmethod and uses enterprise's achievement analytical method based on grey decision-making theory to guide the stock investment analysis. The conclusion drawn is that it is feasible and scientific to use grey decision-making model in the investment decision-making of capital market.Grey decision-making which is an effective analytical method will offer a quantitative analytical method and play an important role in system analysis and market forecast and financial decision-making.